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Vedder Thinking | Articles Investment Services Regulatory Update

Newsletter/Bulletin

Topics:

New Rules, Proposed Rules and Guidance

  • SEC Stays Effectiveness of Amendments to Proxy Rules that Facilitate Rights of Shareholders to Nominate Directors
  • SEC Amends Regulation FD as Required by the Dodd-Frank Act
  • CFTC Requests Comments on Amendments to Limit the Use of Futures by Investment Companies
  • SEC Proposal Regarding Mutual Fund Distribution Fees
  • SEC Adopts Amendments to Part 2 of Form ADV

Legislation

  • House Passes Regulated Investment Company Modernization Act of 2010
  • Dodd-Frank Wall Street Reform and Consumer Protection Act Enacted
  • Congress Passes Legislation Limiting Confidentiality Protection for Materials Provided to the SEC
  • Whistleblower Provisions Under the Dodd-Frank Act
  • Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 Enacted

Litigation

  • Massachusetts Supreme Court Rules on Application of the Business Judgment Rule
  • Ninth Circuit Finds No Private Right of Action under Section 13 of the 1940 Act

Other News

  • SEC’s Enforcement Head Testifies on Mutual Fund Fee Initiative
  • SEC Issues No-Action Letter on Soft Dollar Arrangements
  • SEC Staff Issues No-Action Letter and Interpretation under Rule 2a-7
  • SEC Staff Issues Observations Regarding Fund Derivatives Disclosure
  • New California Account Opening Disclosure Requirement
  • SEC Supports Sarbanes-Oxley Whistleblower Provisions for Adviser Employees

Enforcement Actions

  • Former State Street Employees Charged by SEC for Misleading Investors About Subprime Mortgage Investments
  • SEC Charges Broker-Dealer for Deficient CIP Procedures
  • SEC Charges Former Audit Partner and Son With Insider Trading

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